If you are graduating, on a leave of absence or enrolled less than half-time, federal regulations and university policy require you to complete Exit Loan Counseling.
Basic Information
- To obtain Perkins Loan funding, you must have applied for financial aid, and your financial aid award must include this loan.
- You must be enrolled at least half-time if you are an undergraduate and full time if you are a graduate. Submit all required documents and maintain Satisfactory Academic Progress and eligibility for the loan.
- If you choose not to borrow additional Perkins Loan funds in subsequent years, inform the Financial Aid Office in writing and your award will be cancelled.
- The current (2008-2009) interest rate is fixed at 5 percent.
- The 10-year repayment period begins nine months after graduation or when the student drops below half-time enrollment.
How To Obtain Your Funding
Before you receive your Federal Perkins loan, you must sign authorize the University of Southern California to credit the funds to your student account by electronically signing a Master Promissory Note (MPN). The University has partnered with ECSI to help us with this process (ECSI is currently servicing these loans). An email* will be sent to your official USC email address (ends in '@usc.edu) with instructions on how to accept and sign for these loans electronically (note: you will need your FAFSA pin to complete the process). For more information, visit the Student Financial Services website.